According to our latest market study on “Residential Food Processors Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Size (Small, Medium, and Large), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography,” the residential food processors market size was valued at US$ 3,475.21 million in 2021 and is projected to reach US$ 5,553.20 million by 2028; it is expected to grow at a CAGR of 6.9% from 2021 to 2028. The report highlights key factors driving the residential food processors market growth and prominent players and their progress in the market.
A residential food processor is a kitchen appliance having a closed container with interchangeable blades. The processor is mainly used for quick and easy slicing, shredding, mincing, chopping, and puréeing of food, which helps in saving time and effort.
There is an increase in the number of bakers across the world. In recent years, due to the lockdown caused by the COVID-19 pandemic, consumers have increased their focus on home cooking and home baking. The National Online Survey conducted by Packaged Facts in November–December 2020 stated that 84% of the respondents reported baking at home in 2020, resulting in a growing number of bakers. Along with this, countries such as the UK saw an increase in the number of home bakers in 2020. The food processor is mostly used to chop, slice, grate, and mix large quantities of ingredients, and all these functions are useful in the home baking process. Thus, the growing number of home bakers across the world drives the residential food processors market growth.
Koninklijke Philips N.V., Whirlpool Corporation, Breville Group Limited, De’Longhi Appliances S.r.l., Conair Corporation, Robert Bosch GmbH, MAGIMIX, SharkNinja Operating LLC, Groupe SEB, and Spectrum Brands Inc. are among the well-established players constituting the majority of residential food processors market share.
Impact of COVID-19 Pandemic on Residential Food Processors Market Growth
The COVID-19 pandemic negatively impacted the consumer goods industry with the shutdown of manufacturing facilities, difficulty in procuring raw materials and components, and restrictions on logistic operations. The disruptions in the supply of raw materials to manufacturers hampered residential food processors’ production. However, during the pandemic, the demand for residential food processors increased due to the demand for convenient products and the rise in home cooking and baking. Along with this, the increased consumption of consumer goods on e-commerce platforms is expected to support the residential food processors market recovery during the forecast period.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Residential Food Processors market based on the deployment type and application. It also provides market size and forecast till 2028 for overall Residential Food Processors market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Residential Food Processors market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Residential Food Processors market segments and regions.
The research provides answers to the following key questions:
What is the estimated growth rate of the market for the forecast period 2022–2028? What will be the market size during the estimated period?
What are the key driving forces responsible for shaping the fate of the Residential Food Processors market during the forecast period?
Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Residential Food Processors market?
What are the prominent market trends influencing the development of the Residential Food Processors market across different regions?
What are the major threats and challenges likely to act as a barrier in the growth of the Residential Food Processors market?
What are the major opportunities the market leaders can rely on to gain success and profitability?
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Residential Food Processors Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
Table of content:
RESIDENTIAL FOOD PROCESSORS MARKET LANDSCAPE
RESIDENTIAL FOOD PROCESSORS MARKET – KEY MARKET DYNAMICS
RESIDENTIAL FOOD PROCESSORS MARKET – GLOBAL MARKET ANALYSIS
RESIDENTIAL FOOD PROCESSORS MARKET – REVENUE AND FORECASTS TO 2028 – DISTRIBUTION CHANNEL
RESIDENTIAL FOOD PROCESSORS MARKET REVENUE AND FORECASTS TO 2028 – GEOGRAPHICAL ANALYSIS
RESIDENTIAL FOOD PROCESSORS MARKET, KEY COMPANY PROFILES
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